When you think of some of the biggest dividend payers in the market, defensive stocks in the consumer staples and health-care sectors typically come to mind.

It’s time to add tech stocks to the list.

The tech sector, which last year became the largest dividend-paying sector in the S&P 500, got an additional jolt from Apple Inc.'s 15% dividend hike. The announcement, late yesterday, propelled the iPhone and iPad maker to the top dividend payer in the world.

However, Apple isn’t the only name driving the tech sector. Data compiled by Moody's Investors Service showed companies in the tech sector are expected to make dividend payments of $44.4 billion in 2013, up 35% from a year ago. Stripping Apple from the equation and dividend payouts are still expected to increase 20% to $33 billion.

Much of those payouts are concentrated among the biggest companies in the sector that pay dividends. Apple Microsoft Corp. and Intel Corp. are expected to comprise 54% of the payouts in the tech sector, Moody’s says. The 10 top dividend payers will account for 84% of the sector’s dividends.

The one catch is the sector’s payout ratio compared to cash flow is fairly low, predominantly due to tax reasons. “Tax-inefficient access to overseas liquidity, operational requirements, uncertainties related to the technology sector in general and company-specific strategic considerations will continue to keep payout ratios relatively low,” Moody’s says.

The overseas cash issue is significant. A big chunk of the cash companies could use to pay dividends is sitting overseas, out of the reach of the IRS. If that cash were used to pay dividends, it would be subjected to U.S. taxes, Moody’s says. That’s partly why Apple is taking its first leap into the debt market to help it return cash to shareholders.

Dividend payers held $261 billion, or 76%, of their cash offshore at the end of last year, according to Moody’s, up from $211 billion, or 75%, in the prior year.